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The Dollar Trap: How the Us Dollar Tightened Its Grip On Global Finance

by Eswar S. Prasad
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Current price ₹650.00
Original price ₹999.00
Original price ₹999.00
Original price ₹999.00
(-35%)
₹650.00
Current price ₹650.00

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Book cover type: Hardcover
  • ISBN13: 9780670087624
  • Binding: Hardcover
  • Subject: N/A
  • Publisher: PRH India Local Print
  • Publisher Imprint: Penguin Portfolio
  • Publication Date:
  • Pages: 432
  • Original Price: INR 999.0
  • Language: English
  • Edition: N/A
  • Item Weight: 620 grams
  • BISAC Subject(s): Essays

Eswar Prasad examines how the dollar came to have a central role in the world economy and demonstrates that it will remain the cornerstone of global finance for the foreseeable future. Marshalling a range of arguments and data and drawing on the latest research, Prasad shows why it will be difficult to dislodge the dollar-centric system. With vast amounts of foreign financial capital locked up in dollar assets, including US government securities, other countries now have a strong incentive to prevent a dollar crash.

Prasad takes the reader through key contemporary issues in international finance including the growing economic influence of emerging markets, the currency wars, the complexities of the China-US relationship and the role of institutions like the International Monetary Fund and offers new ideas for fixing the flawed monetary system. Readers are also given a rare look into some of the intrigue and backdoor scheming that go on in the corridors of international finance.

The Dollar Trap offers a panoramic analysis of the fragile state of global finance and makes a compelling case that, despite all its flaws, the dollar will remain the ultimate safe-haven currency.

About the Author

Eswar Prasad is the Tolani Senior Professor of Trade Policy at Cornell University. He is also a Senior Fellow at the Brookings Institution, where he holds the New Century Chair in International Economics and a Research Associate at the National Bureau of Economic Research. He was previously head of the China Division at the International Monetary Fund. He has co-authored and edited numerous books and monographs, including on financial regulation and on China and India. He serves on an advisory committee to India’s finance minister and is the Lead Academic for the DFID-LSE International Growth Center’s India Growth Research Program. He has testified before numerous US Congressional committees.

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